April Operating Report

Monthly Operating Report
April 2025

2
April 2025 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 284GWh (April 2024:
309GWh)
•Mass market netback of $148.59/MWh (April 2024:
$137.87/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 655GWh (April 2024: 677GWh)
•Electricity and steam net revenue of $146.59/MWh (April 2024:
$136.76/MWh)
•Electricity generated (or acquired) of 722GWh (April 2024:
758GWh)
•Unit generation cost, which includes acquired generation was
$49.48/MWh (April 2024: $48.79/MWh)
•Own generation cost in the month of $41.6/MWh (March
2024: $31.0/MWh)
»Te Huka 3 project progress vs. target for April 2025 was 99.7% vs.
100%
1
.
»Battery Energy Storage System (BESS) project progress vs. target for
April 2025 was 66% vs. 74%
1
.
»Otahuhu futures settlement wholesale price for the 3rd quarter
of 2025 (ASX):
•As at 8 May 2025: $271.1/MWh
•As at 30 April 2025: $335/MWh
•As at 31 March 2025: $306/MWh
»As at 4
th
May 2025, South Island controlled storage was 77% of
mean and North Island controlled storage was 89% of mean.​
»As at 4
th
May 2025, total Clutha scheme storage was 72%
of mean.​
»Inflows into Contact’s Clutha catchment for April 2025
were 106% of mean. (March: 75%, February: 51%, January:
44%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 7.0PJ.
1
The progress target follows an S-Curve model in line with standard project management practicefor large scale
infrastructure projects). This will result in more gradual increments in the reporting of target andactual progress as
the projects near completion. Figures rounded to the nearest percentage.

New Zealand controlled hydro storage
against mean / 12 months
ASX futures settlement
Hydro storage and forward prices
3
Benmore
Otahuhu
Contact Energy / Monthly Operating Report
0
500
1000
1500
2000
2500
3000
3500
4000
4500
MayJunJulAugSepOctNovDecJanFebMarAprMay
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY25CY26CY27CY28
$/MWh
28/06/202431/03/202530/04/2025
0
100
200
300
CY25CY26CY27CY28
$/MWh
28/06/202431/03/202530/04/2025

Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
Wholesale market
0
50
100
150
200
250
300
350
400
450
500
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY24 BENFY25 BENFY24 OTAFY25 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Apr-25Apr-24Mar-25
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Apr-25Apr-24Mar-25

Wholesale
Contact Energy / Monthly Operating Report
5
Retail
Generation mix, gross sales position and unit generation cost (FY24 and 25
respectively)
Retail sales volumes and netback (FY24 and 25 respectively)
Business performance
-
20
40
60
80
100
120
140
160
180
0
100
200
300
400
500
600
700
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/Mwh
GWh
Axis Title
Mass market electricity salesRetail gas salesNetback
-
10
20
30
40
50
60
70
80
90
100
-50
150
350
550
750
950
1,150
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
GeothermalHydroThermal
Acquired generationContracted electricity salesUnit generation cost (RHS)

Contact Energy / Monthly Operating Report
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1
Customer netback in March 2025 was partly impacted by the timing of broadband billings.
2
FY24 unit generation cost is shown on an underlying basis i.e. excluding the net impact of changes in an onerous contract provision for the Ahuroa Gas Storage Facility (AGS).
7
Operational data
Measure
The month ended The month ended The month ended Ten months endingTen months ending
April 25April 24March 25April 25April 24
RetailMass market electricity salesGWh
247 264 246 2,802 2,851
Retail gas salesGWh
37 45 35 471 532
Mass market electricity and gas salesGWh
284 309 282 3,273 3,383
Average electricity sales price$/MWh
345.39 297.22 347.54 309.74 288.86
Electricity direct pass thru costs$/MWh
(172.09)(139.50)(141.28)(138.08)(126.23)
Cost to serve$/MWh
(21.68)(18.90)(21.05)(18.36)(18.04)
Customer netback
1
$/MWh
148.59 137.87 182.13 145.03 134.54
Energy cost$/MWh
(167.46)(140.85)(151.52)(148.13)(132.86)
Actual electricity line losses%
5%7%4%6%7%
Retail gas salesPJ
0.1 0.2 0.1 1.7 1.9
Electricity ICPs#
443,000 434,500 442,500 443,000 431,500
Gas ICPs#
73,000 71,500 73,000 73,000 71,000
Telco connections #
121,000 101,000 119,000 115,000 92,500
WholesaleElectricity sales to Customer business

GWh
260 283 256 2,984 3,050
Electricity sales to Commercial and IndustrialGWh
132 132 142 1,303 1,214
Electricity CFD salesGWh
263 261 303 3,018 2,884
Contracted electricity salesGWh
655 677 701 7,306 7,149
Steam salesGWh
17 12 18 186 162
Total electricity and steam net revenue$/MWh
146.59 136.76 135.72 146.46 123.93
C&I netback (at the ICP)$/MWh
147.02 137.19 136.01 129.42 123.66
C&I line losses%
4%4%4%4%4%
Thermal generationGWh
63 59 127 861 1,309
Geothermal generationGWh
383 275 412 3,690 2,703
Hydro generationGWh
251 333 172 2,744 3,113
Spot electricity salesGWh
696 667 711 7,295 7,125
Acquired generationGWh
25 91 55 408 433
Electricity generated (or acquired)GWh
722 758 767 7,702 7,558
Unit generation cost (including acquired generation)
2
$/MWh
(49.48)(48.79)(70.12)(54.98)(45.79)
Spot electricity purchases

GWh
(392)(415)(397)(4,287)(4,264)
CFD sale settlementsGWh
(263)(261)(303)(3,018)(2,884)
Spot exposed purchases / CFD settlementGWh
(655)(677)(701)(7,306)(7,149)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
320.36 216.35 282.80 206.13 156.54
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(333.48)(225.24)(301.25)(215.26)(162.93)
LWAP/GWAP%
104%104%107%104%104%
Gas used in internal generationPJ
0.6 0.5 1.1 7.3 10.7
Gas storage net movement (extraction) / injectionPJ
0.0 0.1 (0.4)0.6 (1.0)
Progress tracking actual (target) for BESS%66%(74%)N/A60%(67%)
N/A
N/A
Progress tracking actual (target) for Te Huka 3%99.7%(100%)85% (86%)99.6%(100%)N/AN/A
ContactTotal customer connections#
641,000 611,000 639,000 635,000 600,000
Realised gains / (losses) on market derivatives not in a hedge relationship$m
0.64 0.55 0.02 (16.42)(2.31)

7
Material themeMeasureUnit
Q3 FY25Q3 FY24
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e271234
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.136
0.113
Water
Freshwater take
3
Million cubic
metres
0.590.80
Non-consumptive water usage
4
Million cubic
metres
2,276
3,354
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
2.84.1
Biodiversity
Native rākau (trees) planted by Contact
5
#
2,4300
Pests caught
6
#
982
761
Community
Community initiatives and organisations supported#
29
15
Inclusion and
Diversity
Board
% Women/ %
Men
43% / 57%43% / 57%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
11% / 89%
20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
46% / 52%47% / 53%
Note: This information is updated quarterly (September, January, April, June)
1
Scope 1 – Stationary combustion.
2
Carbon equivalent from stationary combustion / electricity generated and sold via the spot wholesale market
3
Freshwater taken to support operations at geothermal and thermal i.e., drinking water, fire water, water for cooling towers.
4
Water that flows through our Roxburgh power station and cooling water taken for Wairākei geothermal power station.
5
Does not include DrylandCarbon/Forest Partners activities.
6
Predominantly rats, mice and possums.
7
Includes all permanent, fixed term and casual employees. 1.4% and 1.8% unspecified in Q3 FY25 and Q3 FY24 respectively.
Contact Energy / Monthly Operating Report
Environment, Social and Governance (ESG)

8
investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
Investors
Shelley Hollingsworth – Investor Relations &
Strategy Manager
contact.co.nz
Instagram.com/Contact_Energy
Linkedin.com/company/contact-energy-ltd
Facebook.com/ContactEnergy
Youtube.com/ContactEnergy
To find out more about Contact Energy
+64 27 227 2429
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